Buyers Reemerge with more purchasing power​​​​

At a time when things seem to be changing more rapidly than ever before, a® HarrisX survey of active home shoppers released today shows that homebuyers are largely looking for the same characteristics in a new home, before and after COVID. However, after months of quarantine and economic uncertainty, many are shifting the ways they approach the buying process.

To identify what’s changed and what hasn’t,® compared the results of its most recent survey conducted in June to a similar survey of prospective buyers in March. Both surveys polled 2,000 people looking to purchase a home within the next 12 months.

Nearly two-thirds of buyers surveyed say they’ve been able to save more money for their down payment due to the shelter-in-place orders this spring. Combined with low interest rates, more house hunters say they’re stretching their budgets and searching for larger homes in pricier neighborhoods this summer, according to a new survey from® of consumers who plan to purchase a home in the next 12 months.

Thirty-eight percent of home buyers recently surveyed say they have increased their target price range since starting their home search. Further, 41%of buyers say they are looking to buy sooner because of the COVID-19 pandemic.

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